Monday 16 December 2019 11:42 am

Hong Kong tycoon snaps up £65m penthouse after Boris Johnson victory

A Hong Kong tycoon has splashed out £65m on a penthouse apartment in Belgravia just hours after Boris Johnson’s landslide election victory was confirmed.

It is understood that the deal, which is the most expensive penthouse sale this year, was completed as investors celebrated the huge Tory win.

Read more: Chinese property firms in plans to upgrade eastern end of City

The 9,800 square feet (sq ft) six bedroom penthouse is located across the top two floors of Belgravia Gate, which has been dubbed Belgravia’s answer to the Candy brothers’ One Hyde Park.

The unnamed Hong Kong-based buyer, who is in his mid-30s, had initially agreed to buy a much larger house in prime central London, but opted for the apartment after realising how much refurbishment work had to be carried out.

He completed the deal with Beauchamp Estates as the results of the election emerged on Friday, paying almost £10m in stamp duty in the process.

The penthouse, which boasts interior design by architect Thomas Juul-Hansen, is one of 12 lavish residences created behind the facade of four large mansion buildings.

It is styled as an outside luxury home, with a 2,000 sq ft private rooftop terrace and garden.

The mammoth sale comes amid renewed confidence among international investors, as Johnson secured a resounding victory and vowed to deliver Brexit on 31 October.

Read more: Political chaos holds back London house prices in November

The FTSE 100 was up more than two per cent this morning – on top of significant gains on Friday – as traders reacted with optimism to the election result.

The deal is also a coup for Beauchamp Estate’s ultra-high net worth division. The property firm, which was founded in 1979 by Gary Hersham, has been involved in some of the most valuable deals in London and abroad, including the £170m sale of a private palace in France.

Image credits: Beauchamp Estates